Altus Group Enhances ARGUS Software Through Acquisition of Integrated Real Estate Resources
Resources Acquisition of Reputable Real Estate Software Implementation Firm Delivers Unique Technical Skillsets, Software Tools and Technology, and Boosts Bench Strength
TORONTO (December 1, 2015) – Altus Group Limited (“Altus Group” or “the Company”) (TSX: AIF) announced today that it has acquired Integrated Real Estate Resources, Inc. (“INTRER”), a firm providing software implementation, business process improvement and customized solutions globally to the commercial real estate industry. The acquisition of INTRER significantly enhances the Company’s application services capabilities of its ARGUS Software (“ARGUS”) subsidiary, providing for a one-stop solution for implementing ARGUS’ products.
“INTRER’s strong reputation and extensive knowledge of ARGUS’ suite of products will drive deeper value for our clients who will benefit from a seamless implementation team,” said Mike Abramsky, President of ARGUS. “The addition of the INTRER team and its proprietary software tools enhance our application services capabilities, providing more robust technical offerings while strengthening our team with a unique combination of real estate and software expertise.”
Founded in 2003, INTRER combines real estate knowledge, technical expertise and proprietary software tools that enable a broad range of software implementation and business optimization solutions. As an ARGUS Software key technical subcontractor for the last five years, INTRER specializes in ARGUS Enterprise consulting, implementation, integration, custom reporting and custom application development. INTRER’s team of eight professionals, including its founder and President Mike Goode, will join ARGUS’ professional services team to create a differentiated application services offering.
About ARGUS Software Inc.
ARGUS Software®, a subsidiary of Altus Group Limited, is the leading provider of software and solutions for analyzing and managing the value of real estate investments worldwide. ARGUS Software has a global client base and has been dedicated to providing solutions to the commercial real estate industry for over 30 years. The ARGUS Software portfolio includes industry-standard products, including ARGUS Enterprise® – the most open and integrated platform for valuation, budgeting and asset management solutions.
Altus Group Limited
Altus Group Limited is a leading provider of independent advisory services, software, and data solutions to the global commercial real estate industry. All of our five core practices – Research, Valuation and Advisory, ARGUS Software, Property Tax Consulting, Cost Consulting and Project Management, and Geomatics – embody and reflect decades of experience, a broad range of expertise, and leading edge technology. Our offerings empower clients to analyze, gain insight and recognize value on their real estate investments. Headquartered in Canada, we have approximately 2,300 employees around the world, with operations in North America, Europe and Asia Pacific. Our clients include some of the world’s largest real estate industry participants, spread across a broad variety of sectors.
The Company is focused on creating sustainable shareholder value that generates long-term returns by targeting organic and accretive growth while providing quarterly dividend payments of $0.15 per share. Altus Group’s securities are traded on the TSX under the symbols AIF and AIF.DB.A.
Certain information in this press release may constitute “forward-looking information” within the meaning of applicable securities legislation. All information contained in this press release, other than statements of current and historical fact, is forward-looking information. Forward-looking information includes, but is not limited to, the acquisition of INTRER and the operational and financial prospects related thereto; Altus Group’s business and operating initiatives; and its expectations of future performance for its various business units. Generally, forward-looking information can be identified by use of words such as “may”, “will”, “expect”, “believe”, “plan”, “would”, “could” and other similar terminology. All of the forward-looking information in this press release is qualified by this cautionary statement.
Forward-looking information is not, and cannot be, a guarantee of future results or events. Forward-looking information is based on, among other things, opinions, assumptions, estimates and analyses that, while considered reasonable by Altus Group at the date the forward-looking information is provided, inherently are subject to significant risks, uncertainties, contingencies and other factors that may cause actual results, performance or achievements, industry results or events to be materially different from those expressed or implied by the forward-looking information. The material factors or assumptions that were identified and were applied by Altus Group in drawing conclusions or making forecasts or projections set out in the forward-looking information include, but are not limited to: the successful execution of Altus Group’s business strategies (including the success of its initiatives related to INTRER); consistent and stable economic conditions or conditions in the financial markets; consistent and stable legislation in the various countries in which Altus Group operates; no disruptive changes in the technology environment; the opportunity to acquire accretive businesses; the successful integration of Altus Group’s businesses; and the continued availability of qualified professionals. Please consult Altus Group’s most recent regulatory filings on SEDAR for more information on the Company’s forward-looking statements.
Given these risks, uncertainties and other factors, investors should not place undue reliance on forward-looking information as a prediction of actual results. The forward-looking information reflects management’s current expectations and beliefs regarding future events and operating performance and is based on information currently available to management. Although Altus Group has attempted to identify important factors that could cause actual results to differ materially from the forward-looking information contained herein, there are other factors that could cause results not to be as anticipated, estimated or intended. The forward-looking information contained herein is current as of the date of this press release and, except as required under applicable law, Altus Group does not undertake to update or revise it to reflect new events or circumstances. Additionally, Altus Group undertakes no obligation to comment on analyses, expectations or statements made by third parties in respect of Altus Group, its financial or operating results, or its securities.
Camilla BartosiewiczBartosiewiczVice President, Investor Relations